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Information aggregation in democratic mechanisms
Britz, Volker; Gersbach, Hans - 2016 - This version: January 22, 2016
We examine whether and how democratic procedures can achieve socially desirable public good provision in the presence of profound uncertainty about the benefits of public goods, i.e., when citizens are able to identify the distribution of benefits only if they aggregate their private...
Persistent link: https://www.econbiz.de/10011444451
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The case for nil votes : voter behavior under asymmetric information in compulsory and voluntary voting systems
Ambrus, Attila; Greiner, Ben; Sastro, Anne - 2015
We experimentally study the impact of adding an explicit nil vote option to the ballot in both compulsory and voluntary voting settings. We investigate this issue in an informational voting setting, in which some voters are uninformed and face the swing voter’s curse, implying that they can...
Persistent link: https://www.econbiz.de/10011458158
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Information Aggregation in Democratic Mechanisms
Britz, Volker - 2016
We examine whether and how democratic procedures can achieve socially desirable public good provision in the presence of profound uncertainty about the benefits of public goods, i.e., when citizens are able to identify the distribution of benefits only if they aggregate their private...
Persistent link: https://www.econbiz.de/10012994342
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Information Aggregation, Strategic Voting, and Institutional Design
Costinot, Arnaud; Kartik, Navin - 2006
This paper discusses the implications of strategic voting for institutional design in environments where the only role of elections is to aggregate information. We adopt a mechanism design perspective, which assumes that prior to a standard voting game, a fictitious designer has to select the...
Persistent link: https://www.econbiz.de/10014060365
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How transparency kills information aggregation : (and why that may be a good thing) ; conference paper
Fehrler, Sebastian; Hughes, Niall - 2014
than in theory. …
Persistent link: https://www.econbiz.de/10010486059
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Does Proxy Advice Allow Funds to Cast Informed Votes?
Matsusaka, John G.; Shu, Chong - 2021
This paper estimates to what extent proxy advice allows funds to vote as if they were informed. A fund’s vote is classified as “informed“ if the fund accessed the company’s proxy statement from the SEC’s Edgar website prior to voting. A fund’s proxy advisor, if any, is identified...
Persistent link: https://www.econbiz.de/10013223440
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Initiation of Merger and Acquisition Negotiation with Two-Sided Private Information
Chen, Yi - 2015
In a dynamic model of merger negotiation with two-sided private information two-sided endogenous initiation, this paper …
Persistent link: https://www.econbiz.de/10013015154
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Misvaluation and financial constraints : method of payment and buyer identity in mergers & acquisitions
Berg, Aron - 2017
The paper studies how stock price misvaluation and financial frictions affect whether an acquisition occurs between or within industries and whether the acquirer pays in cash or stocks. I set up a model where stock market misvaluation correlates within industries and across industries and assume...
Persistent link: https://www.econbiz.de/10011621231
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Merger Mechanisms
Brusco, Sandro; Viswanathan, S.; Lopomo, Giuseppe - 2008
's stand-alone value and a component of the synergies that would be realized by the merger involving his firm. We characterize …, hence transfers can be made contingent on the new information accruing after the merger. Second, we study the case of … identify necessary and sufficient conditions for the implementability of efficient merger rules. In the second case, we show …
Persistent link: https://www.econbiz.de/10014073457
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Merger mechanisms
Brusco, Sandro; Lopomo, Giuseppe; Viswanathan, S. - 2004
Persistent link: https://www.econbiz.de/10001976353